Short answer is NO. You should have emergency funds first before buying a house . What is an emergency fund? An emergency fund is a savings account having enough money in it to pay for living costs for many months, usually between three to six months’ worth. It is a cash reserve that is set aside to cover large financial surprises such as unforeseen medical expenses, home-appliance repair or replacement, major car fixes, or unemployment. 2 reasons why you need an emergency fund before buying a home Although it may be tempting to purchase a property when we have the funds in our savings account, doing so before having sufficient emergency funds on hand could cause you to rapidly regret your choice. Here are the two main reasons why you must have your cash reserves first before taking action: 1. To make sure that you can afford your mortgage payments. One of your largest monthly expenses will probably be your mortgage payment . Additionally, it’s a payment that you need to be quite certain you can cover. You run the danger of facing foreclosure if you can’t pay your mortgage on time. This may be expensive and emotionally draining, and it can harm your credit score for years to come. If you have an emergency fund, you may avoid missing your mortgage payments. Your emergency fund will make sure you have the cash on hand to pay the bill, even if you lose your job, experience major health problems that make working impossible, or encounter other significant financial surprises that make it hard for you to pay your mortgage. You won’t be in a rush to sell the house if it turns out that you have a long-term problem that prevents you from making mortgage payments permanently because your emergency fund should be enough to cover the costs until you have time to do so. 2. To be ready for home maintenance and repair costs. One of the major drawbacks of homeownership is the fact that you no longer have a landlord who takes care of the repairs and upkeep of your home. It’s now up to you to be responsible for the regular maintenance jobs to keep your house in good shape. You also have to fit the bill if anything breaks. Most home repairs can’t be avoided and could be unexpectedly pricey and require immediate attention. For example, if your roof develops a leak and water is pouring during the country’s rainy (and typhoon!) season, you would need to pay for a fix right away. With your emergency fund secured, you may avoid going into debt or having trouble coming up with the money to cover these unforeseen expenses. Over time, it may be preferable to build a home maintenance fund to cover these repair costs. In conclusion, buying a house will be a good financial choice that pays off in the long run if you have an emergency fund to protect your home so you don’t end up unable to make payments on it.

Both domestic and foreign investors looking for profitable real estate possibilities have been drawn to Cebu City in recent years, making it a top investment destination. Cebu City presents itself as a prospective center for real estate investment due to its growing economy, advantageous government policies, and advantageous location. We will explore why it may be prudent to invest in Cebu City today, especially in pre-selling homes that are scheduled to open in 2025, in this blog. Cebu IT Park Central Block Government and Economic Status: The capital of the Philippine province of Cebu is Cebu City. The city has a stable political climate that supports the expansion and success of businesses. A number of industries, including tourism, manufacturing, real estate, and information technology-business process outsourcing (IT-BPO), have contributed to Cebu City's recent strong economic growth. BPO Hub and Foreign Investor Magnet: With its highly qualified workforce, affordable operating costs, and encouraging business climate, Cebu City has become a preferred location for BPO firms and international investors. The city's reservoir of highly educated and English-proficient workers fuels the BPO industry's continued growth, making it a prime site for outsourcing services. Furthermore, Cebu City is a desirable option for international investors wishing to diversify their portfolios outside of Manila due to its advantageous position in the Visayas and its advanced infrastructure. Cebu City's workforce is not restricted to city dwellers alone because of its direct connections to other ports and domestic airports throughout the nation. It includes people from nearby cities and municipalities as well as those from Mindanao. Investing in Pre-selling Properties: Prior to their complete completion, pre-selling properties provide investors a great chance to purchase premium real estate at a reduced price. Investors can benefit from early bird discounts and possible property value growth as the construction moves forward by purchasing pre-selling homes scheduled to launch in 2024. Because of Cebu City's booming real estate market and ongoing infrastructure and development initiatives, pre-selling homes is a wise choice for long-term financial growth. Upcoming Cebu Projects: Calle 104 Calle 104 The Lincoln Tower Auria Residences Mantawi Residences To sum up, for investors hoping to take advantage of Cebu City's economic expansion and welcoming investment environment, it offers a strong chance. Cebu City is well-positioned for future growth and development because of its stable government, thriving BPO industry, and advantageous location. Investors can position themselves to profit from Cebu City's thriving real estate market and safeguard their financial future by making an investment in pre-selling properties scheduled to launch in 2025.

Finding a condo is a significant undertaking in and of itself. In addition to examining the development's features and appearance, you should confirm that the property you plan to buy will meet your demands and those of your expanding family. When searching for a condo for your expanding family, keep the following things in mind. Accessibility Priority should be given to accessibility to important locations such as offices, schools, supermarkets, businesses, or banks. A bad site choice might cause tension and interfere with your timetable. You will have more time for leisure and relaxation if your condo is close to your place of employment and school. Additionally, take into account the availability of public transportation, such as buses and trains; a shorter commute is a luxury, particularly for those leading hectic lives in cities. Open Spaces Costa Mira Mactan When not considered, condominiums can be quite cramped and tiny. Seek out condominiums with open areas that promote outdoor activities like jogging, swimming, or strolling through a communal garden. Without having to pay extra, this will be a great place for you and your family to unwind and spend quality time together away from the house. Air Quality Auria Residences Condominium In densely populated areas, residents are becoming increasingly concerned about the quality of the air. Think of fresh air as a crucial feature to consider when searching for the perfect house. It is excellent to search for condominiums with trees and a well-kept garden in the common spaces because everyone wants to escape the haze that a bustling city produces. Amenities The Rise at Monterrazas When looking for a condo for your expanding family, amenities should also be at the top of your list. A library or study space, an indoor or outdoor playground, or even a daycare facility will be beneficial to your children. For those who are interested in exercise and health, a jogging path, basketball court, swimming pool, or fitness facility are also beneficial. Safety & Security A primary concern while looking for a condo for your expanding family is safety and security. Examine the sprinklers, smoke detectors, fire extinguishers, and fire exits; they should be placed thoughtfully throughout the condo for safety. In addition to being safe for the family, a family-friendly condo should be near almost everything and have features that meet everyone's demands. Always exercise forethought when looking for a condo for your expanding family, taking into account how they will move around, develop, and eventually live there. The apartment you should purchase should enhance the family's development over time rather than impede it.